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CARR v. BANKERS TRUST CO.

No. 94-2061.

546 N.W.2d 901 (1996)

Robert CARR, Elaine Gundacker, and Richard Heidloff, Appellants, v. BANKERS TRUST COMPANY; Bryan H. Hall; Tom Smith; Davis, Hockenberg, Wine, Brown, Koehn & Shors, P.C.; and David B. Van Sickel, Appellees.

Supreme Court of Iowa.

April 17, 1996.

Attorney(s) appearing for the Case

Peter C. Riley of Tom Riley Law Firm, P.C., Cedar Rapids, for appellants.

Roger T. Stetson of Belin Harris Lamson McCormick, P.C., Des Moines, and Patrick J. McNulty of Grefe & Sidney, Des Moines, for appellees Bankers Trust Company, Bryan H. Hall, and Tom Smith.

James K. Horstman and Lloyd E. Williams, Jr. of Williams & Montgomery, Ltd., Chicago, IL, and Dennis D. Jerde and Diane M. Stahle of Davis, Hockenberg, Wine, Brown, Koehn & Shors, P.C., Des Moines, for appellees Davis, Hockenberg, Wine, Brown, Koehn & Shors, P.C. and David B. Van Sickel.

Considered by LARSON, P.J., and CARTER, NEUMAN, SNELL, and ANDREASEN, JJ.

LARSON, Justice.

This is a suit for damages indirectly arising out of the loss of trust funds owned by various Iowa municipalities. The plaintiffs sued the trust custodian and the lawyers representing the trust, asserting theories of defamation and negligence in their handling of the fund. The district court granted the defendants' motions for summary judgment, and we affirm.

The Iowa Trust was established in 1990 for the pooling and investing of surplus public...

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